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PAUL M. WARBURG, CHAIRMAN

ADVISORY COMMITTEE:
ALLEN B. FORBES, CHAIRMAN
F. H. GOFF
HENRY C. FLOWER

FREDERIC A. DELANO

CAPITAL ISSUES COMMITTEE

CHARLES S. HAMLIN

OF THE

W. T. CHAPMAN, SECRETARY

IIRADLEY W. PALMER, COUNSIL

FEDERAL RESERVE BOARD

STEPHEN L. SELDEN
EXECUTIVE SECRITAitY

WASHINGTON

JAMES Q. NEWTON
ASST. EXECUTIYI SIC:.RE'URV

:z -7 54
February 23, 1918.

To the
Chairman of the Sub-Committee
en Capital Issues of
Federal Reserve District No.
Dec..r Sir:

I send to you herewith copies of statements given to
the press today.
The form of instructions to applicants is merely a
printer's proof.

The

Chairma~

has telegraphed you asking

hOiv many copies of this fotm you desire for distribution
in your district.

It is expected that these forms will

be forwarded on Monday next.




Faithfully yours,

Secretary.